Government agencies are which of the following?

During 2010, raines umbrella corp. had sales of $850,000. cost of goods sold, administrative and selling expenses, and depreciat

I am Lyosha [343]

To calculate:
1) Net income (loss) for 2010.
2) Operating cash flow
Solution: 1)
Sales = $850000
Less: Cost of goods sold = $610000
  Gross profit = $240000
Less: Administrative and selling expenses = $110000
Earning before Interest, Tax and Depreciation = $130000
Less: Depreciation = $140000
  Earning before Interest and Tax (EBIT) = ($10000)
Less: Interest expense = $85000
  Earning before tax (EBT) = ($95000)
Less: Tax = $0 (as company is having negative EBT or loss hence no tax)

Net loss = $95000
2) Operating cash flow
EBIT + Depreciation - Tax
Wherein, EBIT = Earning before Interest and Tax
  ($10000) + 140000 - 0 = $130000

4 0

4 years ago

Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly W

umka21 [38]

Answer:

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

Explanation:

Following are selected transactions for Vitalo Company.

Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.

As at November 1

Account receivable = $6,000 and Note Receivable = $6000

Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note.

As at December 31

Dr. Account Receivable (61 days /180 days x 6000 x 0.08) ..$163

Cr. Interest Income......................................................................................$163

Apr. 30 White honored her note when presented for payment; February has 28 days for the current year.

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

4 0

3 years ago

Read 2 more answers

(Will mark BRAINLIEST) Can someone explain what exactly this question is asking?:

Mekhanik [1.2K]

The question asks to describes any two methods of searching a job when you actually need for a new job. Also to search jobs you can prefer,

Use Online Job Portal,

Use Employee Referral Programs, etc...

Explanation:

Before you start chasing for a new position you've set aside some effort to clean your resume, take a stab at scanning for openings online by visiting the "Professions" page on different organizations' website pages, perusing different quest for new employment destinations, or experiencing the activity board facilitated by your college. Online occupation sites are regularly called work banks.

They are a decent method to secure current position declarations that meet your criteria. Secure position advertisements on the web, in work banks, on organization sites, at work fairs, and the sky is the limit from there. At that point follow the tips to react to those openings. Address bosses to extend your system and find out about conceivable employment opportunities.

7 0

3 years ago

If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a h

goldfiish [28.3K]

If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday): TRUE

<h3>What are tax returns?</h3>

A tax return is a form or form that is filed with a tax authority and discloses income, expenses, and other relevant tax information.
Tax returns enable taxpayers to assess their tax liability, plan their tax payments, and receive refunds for overpayments.
In most nations, an individual or corporation having a reportable income, such as wages, interest, dividends, capital gains, or other profits, must file an annual tax return.
For example, if April 15th comes on a Saturday, the deadline for individual tax returns is April 17th (assuming it is not a holiday).

Therefore, the statement "if April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday)" is TRUE.

Know more about tax returns here:

brainly.com/question/4210849

#SPJ4

Complete question:

If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday). TRUE or FALSE

4 0

2 years ago

Glascro Company manufactures skis. The management accountant wants to calculate the fixed and variable costs associated with the

omeli [17]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Month - Lease cost - Machine hours

April: $15,000 - 800

May: $10,000 - 600

June: $12,000 - 770

July: $16,000 - 1,000

Using the high-low method, first, we need to determine the unitary variable cost. We need to use the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (16,000 - 10,000) / (1,000 - 600)

Variable cost per unit= $15 per unit

Now, we can calculate the fixed costs:

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 16,000- (15*1,000)

Fixed costs= $1,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 10,000 - (15*600)

Fixed costs= $1,000

6 0

3 years ago